The two major Jamaica Stock Exchange markets meandered all week, closing the past week with the Junior Market rising moderately and the Main Market recovering 5,228 points of the more than 12,000 lost on the last two trading days in the previous week as prices of Caribbean Cement, NCB Financial and Scotia Group rose.
Against the above backdrop, there were few changes to the ICTOP10 stocks at the week’s close. Scotia Group jumped 9 percent to end at $37.97 for the week and gave way to Carreras to return to the Main Market TOP10 after a long absence, with the price at $8.10 and projected earnings at 80 cents. The Junior Market lost Medical Disposables with the price closing at $6.72, up 29 percent for the week, allowing General Accident came in to replace it with the price at $6.60 and just edging out Fontana, with both having similar potential gains of 97 percent.
Big TOP10 movers for the week are AMG Packaging lost 6 percent in closing at $2.25 from $2.40 last week, Caribbean Cream fell 4 percent to $5.60, Elite Diagnostic dropped 8 percent to $3.20, Caribbean Assurance Brokers rose 6 percent to $2.47 and Dolphin Cove rose 3 percent to land at $12.90 after it a 52 weeks’ high of $14 on Thursday, new coronavirus making the news seemed to have induced selling on Friday. In the Main Market, Caribbean Producers jumped 15 percent to close at $10, up from $8.61 and Radio Jamaica gained 8 percent to $3.30.
The top three Main Market stocks are Guardian Holdings, Caribbean Producers and JMMB Group, projected to gain between 214 to 254 percent expected versus last weeks’ 212 to 283 percent.
The top three stocks in the Junior Market are AMG Packaging, followed by Caribbean Assurance Brokers and Access Financial Services. All three can gain between 150 and 211 percent, down from 154 percent and 207 percent previously.
There are many undervalued stocks in the market, with the average gains projected for the TOP 10 Junior Market stocks moved from 145 percent last week to 142percent and Main Market stocks moved from 163 percent to this week’s 159 percent.
The Junior Market closed the week with an average PE 14.5 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the March 2020 historical average of 17, based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.4, with a 42 percent discount to that market’s average PE.
The Junior Market can gain 38 percent to March next year, based on an average PE of 20 and 17 percent based on an average PE of 17. Ten stocks representing 25 percent of all Junior Market stocks with positive earnings are trading at or above this level, down from seven last week, indicating that many others will rise towards the 17 mark in the weeks ahead.
The average PE for the JSE Main Market is 16.1, which is 18 percent less than the PE of 19 at the end of March and 24 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8, representing a 50 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 percent of the market trade at or above a PE of 19, with most over 20, for an average PE of 25.5, suggesting that the accepted multiple could be around 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners; accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Trading closed on Friday, with the volume of stocks dropping 71 percent and the value falling 43 percent below Thursday’s trades at the close of the Jamaica Stock Exchange Junior Market as the market index rose.
Trading averaged 104,156 shares at $447,073, down from 296,376 shares at $662,091 on Thursday and month to date an average of 165,619 units at $596,109, compared to 168,340 units at $602,709 on Thursday. October ended with an average of 162,777 units at $557,275.
Jamaican Teas dropped 11 cents to close at $3.70 in trading 88,776 shares, Knutsford Express climbed 84 cents to $7.99 in an exchange of 100 stock units, Lasco Financial rose 8 cents to $3.13 after finishing trading 11,404 stocks, Limners and Bards shed 19 cents in ending at $3.31 while exchanging 225,264 units, Lumber Depot climbed 9 cents to end at $2.90 in an exchange of 154,948 stock units and Medical Disposables popped 53 cents to $6.72 after exchanging 10,000 stocks.
Market activity led to 37 securities trading compared to 36 on Wednesday and ended with 11 rising, 21 declining and five, closing unchanged. At the close, the Junior Market Index shed 12.60 points to settle at 3,355.11.
Caribbean Flavours fell 26 cents to close at $1.65 while exchanging 6,485,855 units, Derrimon Trading slipped 13 cents to $2.26, with 48,748 stocks clearing the market. Everything Fresh dropped 9 cents to 91 cents trading 39,506 stock units, Express Catering declined 20 cents to end at $5.80 after 41,366 stock units changed hands, Fontana fell 19 cents to end at $7.21 in exchanging 34,055 stocks. Fosrich lost 10 cents ending at $8.85 with the swapping of 2,690 shares, General Accident popped 45 cents $6.70, with 2,850 units changing hands, GWest Corporation rose 9 cents to close at $1.01 after exchanging 14,904 shares. Honey Bun shed 49 cents to $10.50 in an exchange of 32,722 stock units, iCreate rallied 7 cents to 95 cents after trading 1,131,083 stocks, Indies Pharma gained 10 cents in closing at $3 after 15,957 units crossed the exchange. Iron Rock Insurance dropped 89 cents to $3.11 in an exchange of one share, KLE Group declined 83 cents to end at $2.30 in switching ownership of 1,629 units, Lasco Distributors advanced 13 cents to close at $3.20 in trading 12,134 stock units. 
Lasco Financial shed 10 cents to end at $3.05, with 23,350 stocks crossing the market, Limners and Bards climbed 12 cents to $3.50, trading 24,566 units, Lumber Depot declined 14 cents to $2.81, with 302,926 stocks changing hands. Mailpac Group spiked 40 cents to $3.45 in trading 466,836 shares, Main Event dropped 38 cents to $3.72 with an exchange of 10 stock units, Medical Disposables increased 69 cents to $6.19 after exchanging 7,074 stock units. Paramount Trading advanced 16 cents to close at $1.21 with the swapping of 16,460 units, Stationery and Office Supplies jumped $1.09 in closing at $6.59 after exchanging 16,740 stocks and tTech fell 24 cents to $4.26 in switching ownership of 331 shares.
A total of 36 securities traded similar to Tuesday and ended with 12 rising, 15 declining and nine, closing unchanged.
Trading averaged 168,169 shares at $556,675, up from 101,630 shares at $454,859 on Tuesday and month to date, averaging 161,195 units at $599,396, compared to160,795 units at $601,848 on Tuesday. October closed with an average of 162,777 units at $557,275.
Limners and Bards dropped 13 cents to close at $3.38 with the swapping of 11,250 shares, Lumber Depot popped 10 cents to $2.95, trading 477,659 units, Mailpac Group lost 25 cents in closing at $3.05 with an exchange of 466,321 stocks. Medical Disposables declined $1.10 to $5.50, with 1,000 stock units crossing the market, Tropical Battery gained 12 cents to close at $1.34, with 26,383 shares changing hands and tTech popped 30 cents to $4.50 trading 120,000 stock units.
At the close, Access Financial fell 50 cents to $20 in trading 109 shares, AMG Packaging increased 5 cents to end at a 52 weeks’ closing high of $2.70 after hitting a high for the day of $2.89, with an exchange of 187,358 stocks, Blue Power gained 23 cents to close at $3 after exchanging 10,000 units, Caribbean Assurance Brokers dropped 10 cents ending at $2.40, with 179,965 stocks clearing the market. Caribbean Cream spiked 49 cents in closing at $6 after trading nine stock units, Derrimon Trading lost 10 cents to end at $2.21 in exchanging 447,753 units, Dolphin Cove shed 70 cents to $13.29, with 282,618 stocks changing hands. Elite Diagnostic fell 21 cents to $3.23, with 40,200 stock units crossing the market, Express Catering rallied 10 cents to $5.36 as 578,623 shares changed hands, Fosrich declined 37 cents to end at $8.45 after 19,955 shares crossed the market. Future Energy Source fell 15 cents to close at $2.68 after trading 336,563 units, General Accident shed 40 cents to close at $6.50 in an exchange of 16,431 stocks, Honey Bun popped $1.47 in closing at $11.72 in trading 69,284 stock units. Iron Rock Insurance advanced 70 cents to end at $4 in exchanging 30,000 units, KLE Group climbed 13 cents to $3.13 with 250 stock units changing hands, Knutsford Express increased 48 cents to $7.98 with an exchange of 600 shares. 
Lasco Distributors rose 15 cents in closing at $3.30, exchanging 35,264 stocks, Lasco Financial dropped 19 cents to $3 in switching ownership of 155,614 units, Limners and Bards gained 18 cents to end at $3.51 after trading 41,209 stocks. Lumber Depot slipped 12 cents to $2.85 in trading 185,841 stock units, Mailpac Group dropped 9 cents to close at $3.30 with 508,966 shares crossing the market, Medical Disposables increased $1.40 to end at $6.60 after trading 29,021 stock units. Stationery and Office Supplies lost 64 cents to close at $5.55 after exchanging 32,889 stocks and Tropical Battery shed 13 cents in ending at $1.22, with 31,261 shares crossing the exchange.
A total of 35 securities traded, up from 33 on Friday, with 16 rising, 13 declining and six, unchanged. AMG Packaging and Dolphin Cove ended at 52 weeks’ closing high and SSL Venture Capital traded at an intraday high of $1.
Trading averaged 91,146 shares at $368,471 down from 170,260 shares at $687,341 on Friday and month to date, averaging 164,399 units at $610,802, compared to 169,010 units at $626,057 on Friday. October closed with an average of 162,777 units at $557,275.
Honey Bun declined 25 cents to $10.25 in switching ownership of 99,459 units, iCreate dropped 16 cents in closing at 79 cents in an exchange of 90,000 shares, Indies Pharma lost 13 cents to close at $2.87 with the swapping of 79,139 stock units. Lasco Financial popped 9 cents to $3.19 in exchanging 81,844 stocks, Lumber Depot rallied 9 cents to end at $2.97 trading 75,317 units, Mailpac Group shed 15 cents to close at $3.39 in switching ownership of 269,613 stocks. Main Event climbed 43 cents to $4.15, with 75,335 stock units changing hands and Stationery and Office Supplies gained 58 cents in closing at $6.19 in an exchange of 3,649 shares.
The top three Main Market stocks are Caribbean Producers, Guardian Holdings and JMMB Group, which are projected to gain between 212 to 283 percent expected versus last weeks’ 227 to 261 percent.
The average gains projected for the TOP 10 Junior Market stocks moved from 185 percent last week to 145 percent and Main Market stocks remains unchanged at 163 percent.
The average PE for the JSE Main Market is 15.5, which is 23 percent less than the PE of 19 at the end of March and 29 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8, representing a 52 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 percent of the market trade at or above a PE of 19, with most over 20, for an average PE of 25.5, suggesting that the accepted multiple maybe around 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
Honey Bun climbed $1.30 to a 52 weeks’ closing high of $10.50, with 76,381 stock units crossing the exchange, Iron Rock Insurance rallied 23 cents to $3.30 in switching ownership of 11,000 shares, Jamaican Teas lost 20 cents to end at $3.80 after 126,677 stocks changed hands. Knutsford Express popped 45 cents to close at $7.50 after exchanging 1,259 shares, Lasco Distributors shed 10 cents in ending at $3.15 trading 58,580 stock units, SSL Venture rallied 10 cents to 90 cents after trading 5,813 units and tTech rose 20 cents to close at $4.20 in an exchange of 1,226 stocks.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and three stocks with lower offers.
Lasco Distributors fell 7 cents to close at $3.25 trading 75,156 stock units, Lasco Financial popped 8 cents in closing at $3.14 with the swapping of 144,720 shares, Lumber Depot declined 14 cents to close at $2.85 after exchanging 549,063 units. Medical Disposables shed 40 cents to $5.20 in trading 1,000 shares, Paramount Trading lost 20 cents in ending at $1.05, with 21,281 units changing hands, Stationery and Office Supplies spiked 14 cents to $5.61 after trading 4,134 stock units and Tropical Battery increased 11 cents to $1.43, with 475,573 stocks crossing the exchange.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and four with lower offers.
Lasco Manufacturing dropped 7 cents to close at $4.75, trading 14,267 stock units, Limners and Bards lost 21 cents to end at $3.34 while exchanging 253,968 units, Lumber Depot rose 10 cents to $2.99, with 262,591 stocks changing hands. Main Event shed 65 cents to close at $3.70 with 3,560 shares crossing through the market and Paramount Trading declined 15 cents to end at $1.25 with an exchange of 11,839 stocks.